This is going to be huge, and my gut says Goldman Sachs, based on Assange's comments inside. This will not make Dr. Bernanke and Tim Geithner very happy, as they have worked tirelessly to cover-up Wall Street fraud since the Bear Stearns bailout. And if you thought the Pentagon was pushing hard to shut down Wikileaks, wait until the Federal Reserve gets involved.
It's not inconceivable that the Fed itself could one day be a Wikileaks target, and so better to destroy the enemy now.
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First WikiLeaks spilled the guts of government. Next up: The private sector, starting with one major American bank. In an exclusive interview, WikiLeaks founder Julian Assange told Forbes that his whistleblower site will release tens of thousands of documents from a major U.S. financial firm in early 2011. Assange said the documents could "take down a bank or two."
Assange mentioned Goldman Sachs by name in the interview, but did not confirm the Wall Street giant will be the target of the leak. Assange wouldn’t say exactly what date, what bank, or what documents, but he compared the coming release to the emails that emerged in the Enron trial, a comprehensive look at a corporation’s bad behavior.
- "We have one related to a bank coming up, that's a megaleak. It's not as big a scale as the Iraq material, but it's either tens or hundreds of thousands of documents depending on how you define it."
- "It will give a true and representative insight into how banks behave at the executive level in a way that will stimulate investigations and reforms, I presume."
- "Yes, there will be some flagrant violations, unethical practices that will be revealed, but it will also be all the supporting decision-making structures and the internal executive ethos ... and that's tremendously valuable."
- "You could call it the ecosystem of corruption,” Assange added. “But it’s also all the regular decision making that turns a blind eye to and supports unethical practices: the oversight that’s not done, the priorities of executives, how they think they’re fulfilling their own self-interest."
Assange also told the magazine that his group has material on many businesses and governments, including in Russia, and that it has some documents on pharmaceutical companies, which he did not identify.
Read the complete interview at Forbes...
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Bill Black has made the case recently that Bernanke and Geithner are actively working to hide bank fraud...